Do you need money urgently but forgot your debit card at home? Don’t worry! You can easily withdraw cash from an ATM even if you don’t have a debit card. Let’s see how it’s done.
Banking technology has become revolutionary. Previously, a debit card was required to withdraw money from an ATM.
However, in recent years, people have become very comfortable with the features of withdrawing cash from ATMs without a debit card.
Even if you don’t have a debit card in your pocket, withdrawing cash from the ATM using your phone’s features is a breeze. Here are some tips to guide you through this simple process.
Scan the code: To withdraw money from an ATM without a debit card, you need to access the bank’s mobile banking app.
Following the process, the bank will generate a unique code for you, and cash can be withdrawn by scanning the QR code. Additionally, the bank account user must be verified through a PIN or biometric on the phone.
Using UPI: You can also use the UPI feature to withdraw cash from an ATM. To do this, you must use the UPI app on your smartphone.
The same steps must be followed here for cardless cash withdrawals, but you must enter your UPI PIN while withdrawing using this method. After that, money will be dispensed from the ATM.
ATM Transactions with UPI – Pros and Cons:
- When it comes to withdrawing money from ATMs through UPI, safety is a top priority.
- The daily UPI transaction limit for withdrawing cash from an ATM is the same as on the phone, ensuring financial security.
- Transactions through UPI are much safer than using a debit card, as there is no risk of skimming and cloning.
Benefits of Cardless ATM Transactions:
- Convenience: There’s no need to carry your debit card every time, everywhere.
- Security: Skimming/cloning risks can be avoided, and there are no chances of losing the card.
- Accessibility: The burden of handling a debit card is removed, making it more convenient.